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Created page with "<br>A credit is allowed for foreign income taxes paid or accrued. The credit is limited compared to that part of U.S. tax due to foreign source income. It is far from refundable, but any excess credit can be carried to other years to reduce tax.<br><br>Late Returns - Inside your filed your tax returns late, can you still get rid of the tax owed? Yes, but only after two years have passed since you filed the return more than IRS. This requirement often is where people come..."